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I need your help. I only have the bank statement for February of the previous year and no trial balance. How do I take on the balance for the new year? I cannot process journals with the trial balance as there are none? Only bank statement
Originally posted by Neville Bailey
Hi Holger,
You need to process either a cashbook payments journal (for an unfavourable opening balance) or a cashbook receipts journal (for a favourable opening balance) and allocate the transaction to the Suspense account.
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